Rupee Plunges Amid Crude Price Surge and Fed Rate Hike Fears

The Indian Rupee fell to 95.56 against the US dollar on Monday due to rising crude oil prices and growing expectations of a Federal Reserve rate hike.

Analysts project limited directional movement for the currency throughout the current trading session, forecasting a narrow band between 95.25 and 95.75.

The rupee's depreciation signals renewed pressure on emerging market currencies worldwide, particularly those heavily reliant on imported energy.